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Nomination and Remuneration Committee

ROC Nomination and Remuneration Committee.

What is constitute Nomination and Remuneration Committee?

The Board of Directors of the following companies shall constitute Nomination and Remuneration Committee.

Who ?

  1. Every Listed Public Company.
  2. The Following Class of Companies
  • All public companies with a paid-up share capital of Rs. 10/- crores or more; or.
  • All public companies having turnover of Rs. 100/- crore or more; or
  • All public companies which have, in aggregate, outstanding loans, debentures and deposits, exceeding Rs. 50/- crore.

Note:  The paid up share capital, turnover , outstanding loans, debentures and deposits, as the case may be as existing on the date of last audited financial statements shall be taken into record.

Policy for appointment and removal of director, kmp and senior management

The Committee shall identify and ascertain the integrity, qualification, expertise and experience of the person for appointment as Director or KMP and recommend to the Board his/her appointment.

A person should possess adequate qualification, expertise and experience for the position he/she is considered for appointment. The Committee has discretion to decide whether qualification, expertise and experience possessed by a person is sufficient /satisfactory for the concerned position.

The Committee shall identify whether the director is willing to serve on one or more committees of the Board as also devote such time as necessary for proper performance of his duties.

The Committee shall analyze whether the Independent Director being considered is willing to and shall be able to carry out the duties which every independent directors are required to follow. The Committee shall check whether the prospective Director / KMP shall be able to follow the code of conduct of the Company or not.

Term/tenure

Managing Director/Whole Time Director/Independent Director

The Committee shall ensure that the appointment or Re-appointment of any Director as above is carried out as per rules and regulations given under the Companies Act, 2013 along with other relevant laws.

  1. b) Criteria for Evaluation

The Board of Directors shall carry out the evaluation of performance of its Directors and Independent Directors